Taysha Gene Therapies (NASDAQ:TSHA) Shares Down 7.3% – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s share price fell 7.3% during trading on Friday . The stock traded as low as $6.00 and last traded at $6.0930. 203,959 shares were traded during trading, a decline of 93% from the average daily volume of 2,852,856 shares. The stock had previously closed at $6.57.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Pivotal Research set a $14.00 price target on Taysha Gene Therapies in a research report on Tuesday, June 23rd. Bank of America boosted their target price on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Robert W. Baird upped their price target on Taysha Gene Therapies from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Citigroup reiterated an “outperform” rating on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Finally, Wall Street Zen lowered shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $12.62.

Taysha Gene Therapies Stock Down 6.2%

The company has a market capitalization of $1.77 billion, a P/E ratio of -16.15 and a beta of 1.17. The company has a quick ratio of 14.04, a current ratio of 14.04 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $6.15 and a 200-day simple moving average of $5.35.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). On average, equities research analysts expect that Taysha Gene Therapies, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Taysha Gene Therapies

Large investors have recently made changes to their positions in the stock. Marex Group plc acquired a new stake in shares of Taysha Gene Therapies during the second quarter worth $29,000. E Fund Management Co. Ltd. acquired a new position in Taysha Gene Therapies in the 2nd quarter worth $31,000. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in Taysha Gene Therapies during the 3rd quarter worth about $40,000. Tower Research Capital LLC TRC raised its stake in shares of Taysha Gene Therapies by 156.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company’s stock valued at $41,000 after purchasing an additional 10,742 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Taysha Gene Therapies by 143.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company’s stock valued at $43,000 after purchasing an additional 4,607 shares in the last quarter. Institutional investors own 77.70% of the company’s stock.

About Taysha Gene Therapies

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.